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Coming in at equal sixth in the world as targets of “significant” cyber attacks, Australia has reported 16 major incidents since 2010. The US tops the list with 156 incidents – three times more than the UK which recorded the second-most significant cyber attacks at 47. Created using using data from the Center for Strategic and International Studies (CSIS) – which regularly updates a timeline of major cyber incidents – the list once again highlights Australia’s prevalence as a target for cyber warfare at a time of heightened awareness about cyber risks. The CSIS list of “significant” incidents focuses on times when bad actors have targeted government agencies, defense or high-tech companies, and incidents with an economic cost above US$1 million. Starting in 2010 with a hack attempt on Rio Tinto, the listed Australian incidents show a decade-long pattern of cyber espionage targeting mining companies, Defence contractors, and government agencies. Ten years ago, the Australian Si...

Don’t let these Tax Time myths slow down your return At a time when many people want the tax refund that they are expecting to arrive quickly, the Australian Taxation Office (ATO) is warning people not to get tripped up by tax time myths that slow down returns. Usually, tax returns lodged electronically are processed in less than 2 weeks.   Top tax time myths for 2020   Bank details don’t update themselves   While ATO receive information from banks, this doesn’t extend to updating details for the bank account you nominate to have your refund deposited into. Last year many people in their rush to lodge early forgot to update bank details and delayed their refund.   It’s not okay to double dip   ATO is concerned that some taxpayers may either accidentally or deliberately double dip by claiming their working from home expenses using the all-inclusive shortcut method while also claiming for specific items such as laptops or desks.   It’s important...

Your Medicare levy is reduced if your taxable income is below a certain threshold. In some cases, you may not have to pay the levy at all.   The thresholds are higher for low-income earners, seniors, and pensioners. If your taxable income is above the thresholds, you may still qualify for a reduction based on your family taxable income.   In 2019–20, you do not have to pay the Medicare levy if you are single and your taxable income is equal to or less than $22,801 ($36,056 for seniors and pensioners entitled to the seniors and pensioners tax offset).   You will pay only part of the Medicare levy if you are single and your taxable income is between $22,801 and $28,501 ($36,056 and $45,069 for seniors and pensioners entitled to the seniors and pensioners tax offset).   You may still qualify for a reduction based on your family taxable income.   If you do not qualify for a reduction in the Medicare levy, you may still qualify for a Medicare levy exemption...

Atlassian is building the world’s tallest hybrid timber building in Sydney as its new headquarters. Atlassian has revealed plans to build a 40-storey building as its new headquarters in Sydney. At 180 meters, this will be the tallest hybrid timber building in the world. The building will be located in a new tech precinct in inner Sydney. The building will be around 40 storeys high (180 meters) and will be the base for 4000 Atlassian employees when construction finishes in 2025. It’s part of the New South Wales Government’s plan develop a new tech precinct at Central station, expected to host 25,000 workers. Atlassian is the first anchor tenant to sign up to the plan, with construction of its building set to bring more than $1 billion a year to the Australian economy. The Railway Square YHA will be revamped and incorporated into the lower level of the building. Also working its way into the building is the heritage Parcels Shed at the YHA which was used to dispatch parcels from ...